Gaming and Leisure Properties Inc (GLPI) Expected to Post Quarterly Sales of $290.87 Million

Analysts expect Gaming and Leisure Properties Inc (NASDAQ:GLPI) to announce sales of $290.87 million for the current quarter, according to Zacks. Five analysts have made estimates for Gaming and Leisure Properties’ earnings, with the highest sales estimate coming in at $300.30 million and the lowest estimate coming in at $288.21 million. Gaming and Leisure Properties posted sales of $244.05 million during the same quarter last year, which suggests a positive year over year growth rate of 19.2%. The business is scheduled to issue its next quarterly earnings results on Wednesday, April 24th.

According to Zacks, analysts expect that Gaming and Leisure Properties will report full-year sales of $1.17 billion for the current financial year, with estimates ranging from $1.16 billion to $1.20 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.18 billion, with estimates ranging from $1.17 billion to $1.23 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Gaming and Leisure Properties had a net margin of 32.16% and a return on equity of 14.42%. The company had revenue of $303.30 million during the quarter, compared to the consensus estimate of $306.12 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year.

Several brokerages have recently commented on GLPI. BidaskClub cut Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Zacks Investment Research cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Finally, Credit Suisse Group restated an “outperform” rating and set a $41.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.90.

Shares of NASDAQ GLPI traded down $0.05 during trading hours on Monday, reaching $38.85. The stock had a trading volume of 23,757 shares, compared to its average volume of 1,418,780. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.39 and a beta of 0.55. Gaming and Leisure Properties has a twelve month low of $31.19 and a twelve month high of $38.97.

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.68 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.72 dividend on an annualized basis and a yield of 7.00%. Gaming and Leisure Properties’s dividend payout ratio is 85.53%.

In related news, SVP Matthew Demchyk purchased 4,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was purchased at an average cost of $36.50 per share, for a total transaction of $146,000.00. Following the completion of the purchase, the senior vice president now directly owns 37,500 shares in the company, valued at $1,368,750. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.88% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of GLPI. Wells Fargo & Company MN grew its position in Gaming and Leisure Properties by 2.6% during the 3rd quarter. Wells Fargo & Company MN now owns 231,545 shares of the real estate investment trust’s stock worth $8,162,000 after acquiring an additional 5,923 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Gaming and Leisure Properties by 106.0% in the third quarter. JPMorgan Chase & Co. now owns 362,506 shares of the real estate investment trust’s stock worth $12,778,000 after purchasing an additional 186,538 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Gaming and Leisure Properties by 19.9% in the third quarter. Alliancebernstein L.P. now owns 427,650 shares of the real estate investment trust’s stock worth $15,075,000 after purchasing an additional 70,940 shares during the last quarter. BlackRock Inc. raised its stake in shares of Gaming and Leisure Properties by 2.4% in the third quarter. BlackRock Inc. now owns 15,037,257 shares of the real estate investment trust’s stock worth $530,065,000 after purchasing an additional 354,756 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Gaming and Leisure Properties by 1.4% in the third quarter. Schroder Investment Management Group now owns 112,560 shares of the real estate investment trust’s stock worth $3,968,000 after purchasing an additional 1,548 shares during the last quarter. Hedge funds and other institutional investors own 88.23% of the company’s stock.

Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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